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Seattle & Northwest  + Seattle  + Finance  | 
A view of Shoreline, Wash.

CBRE Lines Up $86M Construction Loan on Shoreline Apartments 

CBRE facilitated an $85.5-million construction loan for Ion, a 252-unit Class A apartment community in Shoreline, WA. Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s Capital Markets Debt & Structured Finance arranged the loan on behalf of the developer, AAA Management. 

Ion, located at 345 NE 149th St. in Shoreline, will feature seven stories atop three levels of subterranean parking. Construction is expected to be complete in April 2024 with the opening scheduled for July 15, 2024. 

“About 20% of Ion’s apartments will be designated as affordable units per the City of Shoreline’s Multifamily Property Tax Exemption program,” said Chiles. “This program motivates multifamily developers to provide affordable housing by providing tax exemptions in the Seattle area.” 

Ion is directly adjacent to the forthcoming Sound Transit 148th Street Light Rail Station in an aim to provide residents with easy access to public transportation. 

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Inside The Story

CBRE's Chiles

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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